The bill amends Section 601.002(b) of the Business & Commerce Code to clarify the types of consumer transactions that are exempt from certain regulations. Specifically, it removes the previous exemption for sales of real property and adds new exemptions for service contracts regulated under Chapter 1304 of the Occupations Code and for sales of services that can be canceled by the consumer at any time, provided that the right to cancel is communicated in writing. The bill also specifies that the exemption for real property sales applies only if the purchaser is represented by a licensed attorney, the transaction is negotiated by a licensed real estate broker, or the negotiation occurs at a location other than the consumer's residence.

The changes introduced by this bill will take effect on September 1, 2025, and will only apply to consumer transactions occurring on or after that date. Transactions that take place before the effective date will continue to be governed by the existing law.

Statutes affected:
Introduced: Commerce Code 601.002 (Commerce Code 601)
House Committee Report: Commerce Code 601.002 (Commerce Code 601)
Engrossed: Commerce Code 601.002 (Commerce Code 601)